Solar stock: Bondada Engineering Limited has got an important solar power project of Rs 576 crore in Maharashtra. Under this project, the company will set up a solar plant under the PM Kusum Yojana. The scheme aims to promote the expansion of solar energy in rural areas.
Lumina Clean Energy: The company has got this project from Lumina Clean Energy Pvt Ltd, Pure Light Private Limited and VVKR Photovoltaics Energy Pvt Ltd. Under this, Bondada Engineering has been entrusted with the task of designing, surveying, supplying, installing, testing and installing a grid-connected distribution system from the solar plant. Apart from this, the company will also have to set up another solar plant of 11 kW under Mukhyamantri Saur Krushi Vahini Yojana 2.0.
Performance of Bondada Engineering in the stock market
After the announcement of this new project, the shares of Bondada Engineering have seen a rise. After Monday, the company’s shares hit an upper circuit breaker on Tuesday as well, taking the company’s share price to Rs 3684.45, which is a new highest level in the last 52 weeks. The company’s share prices have been witnessing a steady rise for the last 6 trading days.
In the last 6 months, the share prices of Bondada Engineering have increased by more than 300 per cent. In a period of three months, investors have received a return of 95 per cent. A year ago, the company’s shares were priced at less than Rs 150, but now it has seen an increase of more than 2000 per cent. Currently, the market cap of Bondada Engineering is Rs 7580.16 crore, while its 52-week low level is Rs 142.50.
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